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Govt not considering offloading 10% stake in Bhel

Govt not considering offloading 10% stake in Bhel
PTI
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First Published: Thu, Jul 09 2009. 03 14 PM IST
Updated: Thu, Jul 09 2009. 03 14 PM IST
New Delhi: The government is not considering selling a 10% stake in power equipment manufacturer Bhel, Parliament was informed on Thursday.
To a question whether the government is considering offloading a 10% stake in Bhel, minister of state for heavy industries and public enterprises Arun Yadav said, “No”, in a written reply to the Lok Sabha.
Heavy industry minister Vilasrao Deshmukh had also said that the government has no concrete proposal yet to divest equity in blue-chip Bhel.
“The issue has to be decided by the Disinvestment Department in the finance ministry. Neither have they raised the issue with us, nor have we talked to them,” Deshmukh had said.
The government has a 67% stake in the company.
The Bhel share was down 1.14% at Rs2,023.30 in late afternoon trade on Thursday.
Yadav said Bhel has made an agreeent proposal to Indian Railways for supplying stainless steel EMU (electrical multiple unit) coaches on a long-term basis. The proposal is with the Railway Board.
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First Published: Thu, Jul 09 2009. 03 14 PM IST